Rafferty Asset Management LLC Cuts Holdings in Amcor PLC $AMCR

Rafferty Asset Management LLC trimmed its holdings in shares of Amcor PLC (NYSE:AMCR) by 20.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,667 shares of the company’s stock after selling 25,784 shares during the period. Rafferty Asset Management LLC’s holdings in Amcor were worth $967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AMCR. Vanguard Group Inc. grew its holdings in shares of Amcor by 15.5% in the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock worth $660,627,000 after acquiring an additional 9,119,308 shares during the period. Nuveen LLC acquired a new stake in shares of Amcor in the 1st quarter worth approximately $37,522,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor by 8.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock worth $483,367,000 after acquiring an additional 3,778,714 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Amcor in the 4th quarter worth approximately $31,485,000. Finally, Invesco Ltd. grew its holdings in shares of Amcor by 9.5% in the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock worth $323,149,000 after acquiring an additional 2,889,166 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Buying and Selling at Amcor

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AMCR. UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Truist Financial set a $11.00 price target on Amcor and gave the stock a “buy” rating in a report on Friday, July 11th. Wells Fargo & Company increased their target price on Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price on the stock. Finally, Robert W. Baird lowered their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.42.

Amcor Price Performance

Shares of NYSE:AMCR opened at $8.65 on Tuesday. The business’s fifty day moving average price is $9.30 and its two-hundred day moving average price is $9.40. The stock has a market cap of $12.50 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.72. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. Amcor PLC has a one year low of $8.37 and a one year high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the company posted $0.21 EPS. Amcor’s quarterly revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, analysts forecast that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, September 5th. Amcor’s dividend payout ratio is currently 141.67%.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.